- Apr 1, 2011
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Nevertheless, prices are much lower as a result of drilling. All that horseshit spewed to support a theory that's obviously wrong.Im so old I remember when women were mocked for saying we can drill our way to lower gas prices.
Crude Oil Prices Turn Lower on U.S. Drilling Activity.
"Women" huh.
Anyone of any gender who claims "we can drill our way to lower gas prices" deserves the mockery, for they know nothing of what they babble. First of all "we" don't drill. Oil companies drill. And they do so where and when and to what extent, that it will profit themselves, and obviously lowering prices doesn't serve that, and just as obviously multinational megacorporations owe no allegiance to a national flag, but rather to their own shareholders.
Second, oil is an international fungible commodity, so those multinational oil companies that did the drilling and refining are going to then take it to that international market and sell it where it will be the most profitable. There is NO direct relationship between "what 'we' drill" and "what we pay at the pump". There never has been. Unless you want to nationalize the oil industry and go it alone, there never will be.
"Drilling" is always going on Fingerboy. "Drilling" isn't a limiting factor --- refining capacity is. And that runs as high as it can, consistently. "Drilling" more does not, and can not, change that.
Don't believe me? Try pouring a gallon of orange juice into a thimble. Let me know how it woks out
Look at the graph below and then tell me the price of crude oil doesn't affect the price of gas.